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Issue #633: They're scared of... stablecoins

Issue #633: They're scared of... stablecoins

Dec 13, 2019
Marty's Ƀent

Issue #633: They're scared of... stablecoins

Yesterday morning, Christine Lagarde, the new head of the European Central Bank, held a press conference to explain the ECB's most recent policy moves. There was nothing too surprising about the ECB's decision to remain dovish. However, it seems that Christine and her peers believe there is a pressing need to react to the proliferation of... stablecoins. Putting forth that, "[...] there is clearly a demand out there that we need to respond to."

I hate to break it to you Madame Lagarde, but one the driving force behind the demand for the most used stablecoins is to skirt international banking laws. I find it hard to believe that stablecoin users are going to flock to the ECB's surveillance coin if it's ever brought to market. On top of this, as you freaks who have subjected yourself to the mental torture of reading this rag for some time, stablecoins are inherently unstable and susceptible to Black Swan events.

What the market really needs is a robust open-source, peer-to-peer, censorship resistant, sound digital money for the Digital Age. Not some relic of the last millennia forced into a "stablecoin" that can be surveilled and automatically taxed. Respectfully, I think the ECB should allocate any resources they're thinking about spending on creating a stablecoin and use them to fund a local Bitcoin dev.

This would be much better for the people of Europe. And the world.

Final thought...

Didn't expect to wake up to a video of Davey Strokes. What a world.

Enjoy your weekend, freaks.


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